New Montana Property Tax Updates Could Save You Money

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Montana residents have been facing high property tax bills in recent years, with many homeowners seeing their taxes jump by close to 40% in the latest appraisal cycle. However, the state legislature has passed some relief measures, including a Homestead Reduced Rate program that could lower bills even further. Homeowners need to enroll by March 1 to take advantage of this tax reduction.

Why it matters

Property taxes are a major concern for many Montanans, as rising home values have led to significantly higher tax bills. This story provides important information for residents on ways to potentially save money on their property taxes, which is crucial given the economic challenges many are facing.

The details

Montana runs on a two-year property tax appraisal cycle, and the latest one completed in 2023 resulted in many homeowners seeing their taxes rise by close to 40%. In response, the state legislature passed legislation to provide some relief. One key program is the Homestead Reduced Rate, which could lower property tax bills further if homeowners enroll by the March 1 deadline. Residents can check the Montana Department of Revenue website to see if they already qualify or to begin the enrollment process.

• The latest property tax appraisal cycle in Montana wrapped up in 2023.
• The Homestead Reduced Rate program requires enrollment by March 1, 2026.

What’s next

Homeowners in Montana should visit the Montana Department of Revenue website to check if they are already enrolled in the Homestead Reduced Rate program, and if not, begin the enrollment process before the March 1 deadline.